Manulife Investments has lowered the risk rating on five of its mutual funds and discontinued the fund series which allows for U.S. dollar purchases.
On or about July 31, Manulife says that circumstances are such that it is appropriate to lower the risk rating on the following five mutual funds:
- Manulife Diversified Strategies Fund from "low to medium" to "low"
- Manulife Special Opportunities Class from "high" to "medium"
- Manulife China Class from "high" to "medium to high"
- Manulife Global Real Estate Class from "medium to high" to "medium"
- Manulife Global Real Estate Fund from "medium to high" to "medium".
Manulife points out that no changes have been made to the investment objectives, strategies, or management of the funds listed above.
Due to limited investor demand, Manulife says it has also decided to stop offering the U.S. Dollar Purchase Option series on its mutual funds. The company notes that those who are interested in purchasing investments in U.S. dollars still have the option of choosing from its four pure U.S. dollar funds: two fixed income, one balanced and one equity.